CMVP.TO vs. CBNK.TO

Last updated Jul 25, 2026

CMVP.TO (HAMILTON CHAMPIONS Canadian Dividend Index ETF Class E Units) and CBNK.TO (Mulvihill Canadian Bank Enhanced Yield ETF) are both exchange-traded funds - CMVP.TO is a Canada Equities fund tracking the Solactive Canada Dividend Elite Champions Index, while CBNK.TO is a Derivative Income fund actively managed by Mulvihill. CMVP.TO is passively managed, while CBNK.TO is actively managed. Over the past year, CMVP.TO returned 32.12% vs 89.88% for CBNK.TO. A 0.59 correlation means they provide meaningful diversification when combined. CMVP.TO charges 0.00%/yr vs 1.68%/yr for CBNK.TO.

Performance

CMVP.TO vs. CBNK.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in HAMILTON CHAMPIONS Canadian Dividend Index ETF Class E Units (CMVP.TO) and Mulvihill Canadian Bank Enhanced Yield ETF (CBNK.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CMVP.TO achieves a 18.68% return, which is significantly lower than CBNK.TO's 43.96% return.

CMVP.TO

• 1D: 0.87%
• 1M: 1.92%
• 6M: 13.49%
• YTD: 18.68%
• 1Y: 32.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 27.62%

CBNK.TO

• 1D: 0.86%
• 1M: 2.05%
• 6M: 41.11%
• YTD: 43.96%
• 1Y: 89.88%
• 3Y*: 42.19%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 22.24%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CBNK.TO Mulvihill Canadian Bank Enhanced Yield ETF	CA$306.67K	CA$283.95K	CA$214.78K
CMVP.TO HAMILTON CHAMPIONS Canadian Dividend Index ETF Class E Units	CA$769.19K	CA$841.17K	CA$642.20K

CMVP.TO vs. CBNK.TO - Yearly Performance Comparison

	2026 (YTD)	2025
CMVP.TO HAMILTON CHAMPIONS Canadian Dividend Index ETF Class E Units	18.68%	21.08%
CBNK.TO Mulvihill Canadian Bank Enhanced Yield ETF	43.96%	48.85%

Correlation

The correlation between CMVP.TO and CBNK.TO is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.59
Correlation (All Time) Calculated using the full available price history since Jan 27, 2025	0.59

The correlation between CMVP.TO and CBNK.TO has been stable across timeframes, ranging from 0.59 to 0.59 - a consistent structural relationship.

Return for Risk

CMVP.TO vs. CBNK.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CMVP.TO

CMVP.TO Risk / Return Rank: 95
CMVP.TO Sharpe Ratio Rank: 97
CMVP.TO Sortino Ratio Rank: 96
CMVP.TO Omega Ratio Rank: 96
CMVP.TO Calmar Ratio Rank: 93
CMVP.TO Martin Ratio Rank: 95

CBNK.TO

CBNK.TO Risk / Return Rank: 98
CBNK.TO Sharpe Ratio Rank: 99
CBNK.TO Sortino Ratio Rank: 98
CBNK.TO Omega Ratio Rank: 98
CBNK.TO Calmar Ratio Rank: 98
CBNK.TO Martin Ratio Rank: 98

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CMVP.TO vs. CBNK.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HAMILTON CHAMPIONS Canadian Dividend Index ETF Class E Units (CMVP.TO) and Mulvihill Canadian Bank Enhanced Yield ETF (CBNK.TO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	CMVP.TO	CBNK.TO	Difference
Sharpe ratio: Return per unit of total volatility	3.22	5.28	-2.06
Sortino ratio: Return per unit of downside risk	4.35	6.57	-2.23
Omega ratio: Gain probability vs. loss probability	1.58	1.86	-0.28
Calmar ratio: Return relative to maximum drawdown	4.52	9.01	-4.49
Martin ratio: Return relative to average drawdown	20.35	37.73	-17.38

CMVP.TO vs. CBNK.TO - Sharpe Ratio Comparison

The current CMVP.TO Sharpe Ratio is 3.22, which is lower than the CBNK.TO Sharpe Ratio of 5.28. The chart below compares the historical Sharpe Ratios of CMVP.TO and CBNK.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CMVP.TO vs. CBNK.TO - Drawdown Comparison

The maximum CMVP.TO drawdown since its inception was -8.86%, smaller than the maximum CBNK.TO drawdown of -32.12%. Use the drawdown chart below to compare losses from any high point for CMVP.TO and CBNK.TO.

Drawdown Indicators

	CMVP.TO	CBNK.TO	Difference
Max Drawdown Largest peak-to-trough decline	-8.86%	-32.12%	+23.26%
Max Drawdown (1Y) Largest decline over 1 year	-7.14%	-10.03%	+2.89%
Max Drawdown (3Y) Largest decline over 3 years	—	-17.90%	—
Current Drawdown Current decline from peak	-0.09%	-3.98%	+3.89%
Average Drawdown Average peak-to-trough decline	-1.01%	-10.59%	+9.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.58%	2.39%	-0.81%

Volatility

CMVP.TO vs. CBNK.TO - Volatility Comparison

The current volatility for HAMILTON CHAMPIONS Canadian Dividend Index ETF Class E Units (CMVP.TO) is 2.40%, while Mulvihill Canadian Bank Enhanced Yield ETF (CBNK.TO) has a volatility of 7.37%. This indicates that CMVP.TO experiences smaller price fluctuations and is considered to be less risky than CBNK.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CMVP.TO	CBNK.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.40%	7.37%	-4.97%
Volatility (6M) Calculated over the trailing 6-month period	8.10%	14.74%	-6.64%
Volatility (1Y) Calculated over the trailing 1-year period	10.01%	17.12%	-7.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.88%	17.69%	-6.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.88%	17.69%	-6.81%

CMVP.TO vs. CBNK.TO - Expense Ratio Comparison

CMVP.TO has a 0.00% expense ratio, which is lower than CBNK.TO's 1.68% expense ratio.

Dividends

CMVP.TO vs. CBNK.TO - Dividend Comparison

CMVP.TO's dividend yield for the trailing twelve months is around 2.58%, less than CBNK.TO's 5.41% yield.

Position	TTM	2025	2024	2023	2022
CBNK.TO Mulvihill Canadian Bank Enhanced Yield ETF	5.41%	5.86%	8.25%	9.59%	7.85%
CMVP.TO HAMILTON CHAMPIONS Canadian Dividend Index ETF Class E Units	2.58%	2.70%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CMVP.TO and CBNK.TO in my portfolio?

CMVP.TO and CBNK.TO have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CMVP.TO or CBNK.TO?

On fees, CMVP.TO is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CMVP.TO or CBNK.TO?

CMVP.TO is cheaper with a 0.00% expense ratio, compared with 1.68% for CBNK.TO.

What is the main difference between CMVP.TO and CBNK.TO?

CMVP.TO is categorized as Canada Equities, while CBNK.TO is Derivative Income. They also come from different issuers: Hamilton Capital and Mulvihill. Their fees differ too: 0.00% for CMVP.TO and 1.68% for CBNK.TO.